Under www.marssociety.de an article is mentioning an interesting aspect of regulation today - while the aspect mentioned does not be regulation really but providing fundaments for doing something merely that are required indeed.

The article mentions that without a clear frame of conditions investors considere innovations like suborbital space travel to be too risky because it is unknown what the government might do or not do. Once the frame exist this information is provided by the frame sufficiently.

The questions to be answered are listed to be

Who is responsible to certify suborbital vehicles?Who supervises the flights of suborbital vehicles?What are the levels of safety and qualification required regarding the crew?What are the medical requirements passengers must fit into?Who is to what amount reliable for damages?What must be included into insurance contracts for operators and passengers?What are the environmental requirements to be fulfilled?

Most of your issues are addressed in the United States by the FAA and other Federal agencies. The FAA also licenses pilots, and establishes health requirements for those planning to fly into space. I suspect the EU and others have similar regulations in place. While the paperwork may sometimes be burdensome, the requirements are well known in the industry.

The Federal Aviation Administration (FAA) licenses and regulates U.S. commercial space launch activity including launch vehicles and non-federal launch sites authorized by Executive Order 12465 and 49 US Code, Subtitle IX, Chapter 701 (formerly the Commercial Space Launch Act). Title 49 and the Executive Order also direct the Department of Transportation (carried out by the FAA) to encourage, facilitate, and promote commercial launches. The FAA works with its industry advisory committee, the Commercial Space Transportation Advisory Committee (COMSTAC) to project global commercial space launch demand.